Some 90 tonnes of food items such as fruit and vegetables were sent to Doha.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
For starters, the Iran situation is sure to have an impact on crude oil prices, as the world has little spare capacity.
It's a busy season for Indian producers of orthodox tea. As Sri Lanka, the world's largest supplier of orthodox tea, struggles with its worst economic crisis, a window of opportunity has opened up in neighbouring India. Calls to Indian planters and exporters from foreign buyers of Sri Lankan orthodox tea are pouring in and the buoyant sentiment is reflecting in prices at auction centres. Orthodox tea refers to loose-leaf tea which is produced using traditional or orthodox methods such as plucking, withering, rolling, oxidation and drying.
As the economic crisis in Sri Lanka - the world's largest exporter of orthodox tea - continues to rage across the island nation, tea producers in India look to cash in on the opportunity to seize the market. The country's largest tea growing company, McLeod Russel India, expects orders to come in from July. "A huge opportunity is coming up for everyone in India. "McLeod Russel is well placed because we have the capacity for orthodox tea," said Azam Monem, director, McLeod Russel. About 10 per cent of McLeod's production is orthodox tea.
Exports of high-quality basmati rice from India grew by 22 per cent to $5.2 billion during April 2023-February 2024, amid robust demand, primarily from West Asia. According to data compiled by the commerce department, exports of basmati rice increased to 4.68 million metric tonnes (MMT) in April-February, from 4.1 MMT during the same period a year ago, registering a growth of 14 per cent.
The current instability in the world is a result of long term systemic and socio-politico problems, points out Colonel Anil A Athale (retd).
Tea planters and exporters are "extremely worried" over the possible impact on their shipments to Russia, India's second largest buyer of tea, in the wake of the Russia-Ukraine crisis. Western sanctions and disruption of payments in dollars as well as transhipments to Russia are expected as a fall-out of Russia launching an attack on Ukraine on Thursday. "The Russian market for Indian tea is extremely important as there are payment issues for shipments to Iran, another vital tea export destination. "Around 18 per cent of India's tea shipments go to Russia," India Tea Association chairperson Nayantara Palchoudhuri told PTI.
'She's been a terrific advocate for women's rights in recent months and her prosecutor's background will really help her challenge Trump in a forceful way that Biden could not,' notes Sree Sreenivasan.
A step away from nuclear weapons being used in conflicts, warns Colonel Anil A Athale (retd).
Singh, the joint secretary heading the division for Pakistan, Afghanistan and Iran in the ministry of external affairs, held talks with Taliban's foreign minister Amir Khan Muttaqi on Thursday.
China is going to be an indispensable partner in Russia's ongoing crisis with the US, while on its part, China cannot remain indifferent if Russia gets crushed by the US, lest it loses 'strategic depth', observes Ambassador M K Bhadrakumar.
Pakistan wanted to be constitutionally communal, India wanted to be secular but is communalising itself. All three nations share a penal code, but they have amended their laws to enable the State to specifically target minorities, points out Aakar Patel.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
About 2,000 Indians are living in Iran, a country that has witnessed increasing numbers of coronavirus cases in the last few days. According to latest reports, 237 people have died of the coronavirus infection in Iran while the number of positive cases stands at around 7,000.
As United States President Joe Biden prepares for a rare summit with Chinese President Xi Jinping, the ongoing wars in Ukraine and between Israel and Hamas set the stage for high-stakes discussions, CNN reported on Tuesday.
The United States has discussed with Iran the need to refrain from pressing a "sectarian agenda" in Iraq as the two rivals met on the sidelines of talks on Tehran's nuclear programme in Vienna.
'The bigger challenge and dilemma for Pakistan would be if the US and Saudi Arabia go full throttle against Iran and enforce regime change in Tehran.' 'That would be bad news for Pakistan, especially with the current instability in Balochistan,' notes Brigadier Narender Kumar (retd).
Israeli ambassador Naor Gilon said his country will need the very strong support of "our Indian friends" and that "India is a very influential country in the world, as a country that knows terrorism and understands the crisis."
Taking a dig at Pakistan without naming it, Prime Minister Narendra Modi on Friday said a country which was a supplier of aatank (terror) is struggling for aata (flour) these days.
In the Middle East, which is already coping with the Qatar-Saudi Arabia tensions, comes another pressure point.
The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
Iran signed a $3 billion deal with Boeing, backed Qatar against the Saudis, scored a big victory in Syria and reached out to Hamas. Ambassador M K Bhadrakumar examines how the Qatar versus Saudi Arabia standoff is quickly changing alignments in the Middle East.
While sources in Iran confirmed the dispute, officials of the central banks of both countries are set to meet on Friday.
India has a great opportunity to act as go between Iran and the rest of the world, says Colonel (retd) Anil Athale.
External Affairs Minister Pranab Mukherjee is expected to visit Iran soon, said Manbir Singh, India's ambassador to Iran.
Harris slammed President Donald Trump and pledged to 'rejoin' the Paris agreement on Climate Change and 'strengthen and re-enter' the Iran nuclear deal. "Joe Biden and our administration is gonna have a massive job to repair the damage done by Donald Trump and his administration, and to restore our place in the world," she said.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
The deal involves Iran accepting curbs on its nuclear programme in return for sanctions relief, but many of the critical, politically-charged details are still awaited.
'All but one of the previous oil shocks brought either a change of government or a political crisis.' 'Is the government braced for stormy weather?' asks T N Ninan.
India and China have already rejected the US' sanctions move.
'If attacks escalate, there is a risk the Suez Canal may be closed.'
Defender Ehsan Hajsafi became on Sunday the first member of Iran's national team to speak out from the World Cup in Doha in apparent support of anti-government protests at home, saying players should be the voice of those suffering.
- Iran's world judo champion Arash Miresmaeili refused to compete against an Israeli on Sunday.
In his opening remarks at the virtual summit of the Shanghai Cooperation Organisation (SCO), Modi also said that some countries use cross-border terrorism as an instrument of their policy and the grouping must not hesitate to criticise them.
India's solidarity with the Palestinian cause dates back to Mahatma Gandhi's time and its rising global stature and influence over all key players in West Asia make it well-placed to play a crucial role in defusing the crisis arising out of the Israel-Hamas conflict, Palestine Ambassador Adnan Abu Alhaija said on Tuesday.
By creating mayhem, Hamas aims to force the Arab States to give up their plans of reconciliation with Israel, explains Colonel Anil A Athale.
Rejecting the opposition charge that the government succumbed to American pressure, Mukherjee said India's vote was in 'conformity' with the country's policy.
The multi-million-dollar Iran-Pakistan gas pipeline project is unlikely to be completed by the contractual deadline of December 2014 because of the political transition in Islamabad, officials have said.
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